Pacer Advisors Inc. Buys 2,035,679 Shares of Cencora, Inc. (NYSE:COR)

Pacer Advisors Inc. boosted its stake in Cencora, Inc. (NYSE:COR - Free Report) by 6,855.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,065,374 shares of the company's stock after purchasing an additional 2,035,679 shares during the period. Cencora makes up about 1.0% of Pacer Advisors Inc.'s investment portfolio, making the stock its 23rd biggest holding. Pacer Advisors Inc. owned approximately 1.05% of Cencora worth $464,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD bought a new stake in shares of Cencora during the first quarter valued at about $2,183,619,000. Boston Partners bought a new position in shares of Cencora during the 1st quarter valued at $1,001,269,000. Capital Research Global Investors acquired a new stake in Cencora in the 1st quarter worth approximately $650,424,000. Legal & General Group Plc boosted its holdings in Cencora by 3.7% during the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company's stock valued at $422,538,000 after acquiring an additional 67,287 shares during the period. Finally, Swedbank AB increased its position in Cencora by 2.3% during the third quarter. Swedbank AB now owns 1,394,449 shares of the company's stock worth $313,863,000 after acquiring an additional 31,104 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Trading Up 0.9 %

Shares of Cencora stock traded up $2.30 on Thursday, hitting $245.50. 611,199 shares of the company's stock traded hands, compared to its average volume of 1,402,125. The company has a market capitalization of $48.38 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44. The company has a fifty day moving average of $232.96 and a two-hundred day moving average of $231.37. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. Cencora, Inc. has a one year low of $195.83 and a one year high of $251.56.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. This is a positive change from Cencora's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora's payout ratio is presently 29.29%.

Wall Street Analysts Forecast Growth

COR has been the subject of several recent research reports. UBS Group increased their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. StockNews.com downgraded Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. Evercore ISI upped their target price on shares of Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Barclays raised their price objective on Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Finally, Bank of America reiterated a "neutral" rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $271.20.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the transaction, the chairman now owns 306,752 shares of the company's stock, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 15.80% of the company's stock.

Cencora Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.